Nifty:19993.2/-3.15/-0.02%;Candle:OGU,Short day red; Bank Nifty:45511.35/-59.35/-0.13% Candle:OGU,Short day red ; HB:OGU,Doji,1636,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long63%FutCash;;Opt96%
OI data Nifty ( max pain W19950M)
OI data Bank Nifty Nifty(max pain W M)
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Events/Results:
The NSE has added Indian Energy Exchange and National Aluminium Company to its F&O ban list for September 13, while retaining BHEL, Chambal Fertilisers and Chemicals, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, and SAIL. Punjab National Bank has been removed from the list.
Market wrap up(DWM,T,N,E):The market hit a new high of 20,110 on the Nifty50, but could not sustain the same due to profit-taking by the participants on September 12, as the index gained around 4.5 percent in a one-way rally since the beginning of this month. Hence, further consolidation with support at 19,800-19,900 can be seen in coming sessions, while the crossing of 20,100 decisively is required for the upward rally, experts said. The BSE Sensex gained 94 points at 67,221, while the Nifty50 declined for the first time in the last eight straight sessions, down 3 points amid volatility at 19,993, and formed a long bearish candlestick pattern on the daily timeframe. Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas believes that the index is due for consolidation after a sharp rally in the last seven trading sessions. The range of consolidation is likely to be 20,100 – 19,800. He feels momentum indicators on the daily and hourly timeframe are providing divergent signals which could lead to sideways consolidation. Thus, both price and momentum indicators suggest that there could be consolidation over the next few trading sessions, he said, adding the short-term outlook is positive. In terms of levels, 19,865 – 19,810 is the crucial support zone while 20,200 – 20,250 shall act as an immediate hurdle zone, he said. The broader markets witnessed a big correction after a long time, making the participants cautious a bit. The Nifty Midcap 100 and Smallcap 100 indices fell 3 percent and 4 percent respectively, with disappointing breadth. About nine shares declined for every rising share on the NSE.
